The present invention is generally related to gaming devices, and more specifically, to a gaming device which enables parimutuel betting on races such as horse and dog races.
Parimutuel racetrack systems, known as xe2x80x9ctotalisatorsxe2x80x9d or xe2x80x9ctote systemsxe2x80x9d, commonly offer pools such as the Pick-6 and the Twin-Trifecta, which are more difficult to win than the simpler win, place or show pools. An increased difficulty of winning results in a decreased frequency of payoff, and consequently, higher payoff. In the Pick-6, if no player exactly matches the winners of all 6 races, a portion of the pool may be paid as a consolation to lesser winners, and the remainder of the pool may be carried forward, progressively increasing from day to day until a player exactly matches the winners. In the Twin-Trifecta, the winners of one Trifecta (selecting the first three winners of a race in exact order) may be paid a portion of the pool. A second Trifecta is then offered to those winners only. Until one or more players win both pools consecutively, the remainder of the pool may be carried forward, progressively increasing.
Although the above described and other types of wagers commonly available at racetracks are extremely enjoyable and entertaining, over the years, the racing industry has seen a great increase in competition from lotteries and casinos. At least some patrons prefer a more immediate reward and higher frequency wagering than customarily offered at race tracks. For example, a typical racetrack offers one race every half hour. A casino having slot machines, however, offers a patron the opportunity to place a wager that can be won or lost every few seconds. In order to remain competitive, the racing industry is in need of a gaming system that satisfies the preferences of many different types of patrons.
It would be preferable, of course, to provide patrons with an opportunity to place wagers on a game which supports the racetrack sport. For example, some racetrack operators offer xe2x80x9csimulcastingxe2x80x9d which enables patrons to wager on races televised from other sites rather than watching a live race. Simulcasting allows racetrack owners to offer more variety to their patrons in addition to the local live racing, and also facilitates maintaining operations even when the local racing season is over. Although simulcasting does enhance patron loyalty, the number of wagers a patron can place is still limited, particularly in comparison to a slot machine.
Most known video and mechanical racing games have fixed odds. Such fixed odds typically are required in order to comply with the applicable regulations of lotteries and casinos. However, for at least some patrons, fixed odds games typically are less enjoyable than parimutuel wagers. In addition, known racing games normally only simulate a real event, and tend to provide competition with, rather than support for, the actual underlying sport. Also, parimutuel gambling on racing is allowed in many more jurisdictions than casino games and even lotteries.
It would be desirable to provide a wagering mechanism which incorporates aspects of traditional racetrack wagers, e.g., parimutuel methods, progressively increasing carry-over pool for a large payoff, a more frequent consolation payoff to keep interest from waning, and possibly a series of related pools, yet which also can be played quickly, with a possible instant payoff. It also would be desirable to provide the racing industry with added value, or xe2x80x9cshelf lifexe2x80x9d, for reruns of live events.
In one aspect, the present invention is a gaming system which enables parimutuel wagering with instant payoffs on actual past events. In parimutuel wagering, the players are playing against each other, and the xe2x80x9chousexe2x80x9d or the establishment conducting the game receives a commission on all wagers placed. Parimutuel wagering games are distinguishable from slot games or non-parimutuel wagering games where the players are playing against the xe2x80x9chousexe2x80x9d or establishment conducting the game. The gaining system, in one embodiment, includes a plurality of terminals coupled to a game server through, for example, a wide area network such as the internet. The terminals are computers configured to communicably connect to a wide area network and include a user interface such as a keyboard and a video monitor. The terminals enable a player to establish an account, to enter a wager, to receive a video/audio play-back, and to review the player""s account balance. The game server is a computer system configured to manage the entire game system. For example, the server maintains databases, maintains player accounts, controls and accounts for the transactions with the terminals, controls the flow of data from a video server to the terminals, collates pools from all sources and computes winnings, and provides detailed statistics for the disbursement of funds. The gaming system also includes a video server interface for providing delivery of selected video images from a historical database.
Generally, and in operation, a player attempts to choose the winners of an unknown past event. Although the player does not know which event will be presented, some skill data may be shown on the video display, such as the relative past performance of competitors. After the player makes a selection of winners, the identity of the event is revealed, a video image and/or images of the event is displayed, and the actual winners are presented. If the player correctly picked the winners, the player qualifies for an instant payoff determined in accordance with parimutuel methods. Winning multiple games in a session or selecting the maximum wager amount may qualify the player to win a larger payoff as well.
As explained above, one aspect of the present invention is to enable parimutuel wagering to offer instant payoffs. No gaming device known to be in actual use provides such wagering with instant payoffs. In the paradigm of live parimutuel wagering, a number of players place bets on the outcome of a single event. The players then wait for the results of the event, and then the winning players share the profits from their combined pool of wagers. Pools such as the Pick-6 and Twin-Trifecta add the elements of multi-tiered payoffs and a progressively increasing carry-over pool created by withholding a portion of the profits.
The present invention emphasizes the role of the progressive carry-over pools, so that all tiers of winning payoffs are made from progressive pools, Each player is presented with a unique event, so there is no pooling of other players"" wagers on that event. Each wager forms a trivial pool of one, and either loses and is apportioned among the tiers of progressive pools, or wins and is awarded one of the progressive pools. Since the event is served up on demand from the historical library, not on a schedule, a winning payoff may be made instantly.
The above described gaming system can be utilized in connection with many different types of races such as horse and dog races. In addition, the system could be utilized in connection with other types of events. Importantly, the system supports and rewards the racing industry which produced the original wagering performances, which adds continuing xe2x80x9cshelf lifexe2x80x9d and revenues to the original event.